reports
- Dirk Verbiesen
- Marc Zwartsenburg
- CEFA
- Quirijn Mulder
- Tijs Hollestelle
Utilities and offshore wind supply chain sector/Mind the gaps
In this report we present our view on the long-term growth prospects for offshore wind in Europe, implications of the energy transition and the role of TSOs, such as Elia Group. We also focus on supply chain beneficiaries in our Benelux coverage. An increasing number of long-term framework contracts should provide improved risk-rewards to the supply chain, in our view. Furthermore, we take a deep dive into growth drivers and long-term financing for Elia Group, beyond the company's current financ...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update June: Removing Merus, Shurgard and Adyen ...
In this June update, we've made four adjustments to the KBC Securities Dynamic Top Pick List: 1.Merus (Removed – 27 May) was removed following the release of strong interim Phase 2 data at the ASCO 2025 conference. Its lead asset, petosemtamab, in combination with Keytruda, showed a 63% overall response rate in first-line treatment of head and neck cancer—significantly outperforming Keytruda monotherapy. The resulting share price surge validated our investment thesis. 2. Adyen (Removed) has de...
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
DIE D'IETEREN SA
SOF SOFINA SA
ROYAL VOPAK NV
MELE MELEXIS NV
KIN KINEPOLIS GROUP NV
MRUS MERUS B V
ADYEN ADYEN NV
WDP WAREHOUSES DE PAUW SCA
AZE AZELIS GROUP NV
DEME DEME GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
Experian plc: 1 director
A director at Experian plc bought 4,350 shares at 3,875p and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
Annual and Extraordinary General Meeting 2025
Annual and Extraordinary General Meeting 2025 DEME (Euronext: DEME) held its Annual and Extraordinary General Meeting today at the DEME headquarters. Reference is made to the agendas as shared in the convening notice. The shareholders have approved all agenda items of both the Annual and the Extraordinary General Meeting. Attachment
Jaarlijkse en Buitengewone Algemene Vergadering
Jaarlijkse en Buitengewone Algemene Vergadering DEME (Euronext: DEME) heeft vandaag zijn Jaarlijkse en Buitengewone Algemene Vergadering gehouden in het hoofdkantoor van DEME. Er wordt verwezen naar de agenda's zoals vermeld in de oproeping. De aandeelhouders hebben alle agendapunten van zowel de Jaarlijkse als de Buitengewone Algemene Vergadering goedgekeurd. Bijlage
- Adrian Pehl
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
BEN BENETEAU SA
TPE PVA TEPLA AG
TRI TRIGANO SA
MBB MBB INDUSTRIES SE
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
ROS ROSENBAUER INTERNATIONAL AG
INH INDUS HOLDING AG
SIX2 SIXT SE
CWC CEWE STIFTUNG & CO KGAA
SEM SEMPERIT HOLDING AG
DLG DE'LONGHI S.P.A.
PAT PATRIZIA AG
JEN JENOPTIK AG
CLA CLARANOVA SE
KTA KNAUS TABBERT
DEME DEME GROUP NV
TUI TUI AG
SHUR SHURGARD SELF STORAGE LIMITED
R3NK RENK GROUP AG
HBX HBX GROUP INTERNATIONAL PLC
- Adrian Pehl
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
BEN BENETEAU SA
TPE PVA TEPLA AG
TRI TRIGANO SA
MBB MBB INDUSTRIES SE
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
ROS ROSENBAUER INTERNATIONAL AG
INH INDUS HOLDING AG
SIX2 SIXT SE
CWC CEWE STIFTUNG & CO KGAA
SEM SEMPERIT HOLDING AG
DLG DE'LONGHI S.P.A.
PAT PATRIZIA AG
JEN JENOPTIK AG
CLA CLARANOVA SE
KTA KNAUS TABBERT
DEME DEME GROUP NV
TUI TUI AG
SHUR SHURGARD SELF STORAGE LIMITED
R3NK RENK GROUP AG
HBX HBX GROUP INTERNATIONAL PLC
- Thijs Berkelder
- Guy Sips
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- ING Helpdesk
- Guy Sips
DEME FIRST LOOK: Solid start with strong performance in Offshore Energ...
We reiterate our positive stance on DEME (Buy, €175 TP) as we saw a solid start of the year with 1Q25 turnover up 10% y/y to €993m (KBCSe €980m). End-1Q25 orderbook remains at a healthy level at €7.6bn, compared to €7.5bn (end-1Q24) and €8.2bn (end-FY24). This orderbook is excluding the orderbook of recently acquired Havfram, a Norwegian offshore wind contractor, supporting DEME's ambition to expand its footprint in the offshore wind energy market and bolster its competitive edge in turbine and ...
Trading update Q1 2025: steady first quarter performance and full-year...
Trading update Q1 2025: steady first quarter performance and full-year outlook confirmed Highlights first quarter 2025 Solid start of the year with group turnover at 993 million euros, up 10% compared to 900 million euros a year agoOrderbook remains at a healthy level at 7.6 billion euros, compared to 7.5 billion euros a year ago, excluding orderbook HavframManagement reaffirms guidance for the year for turnover and EBITDA margin at least in line with last yearSubsequent to quarter end, DEME has acquired Havfram, a Norwegian offshore wind contractor, supporting DEME’s ambition to expand ...
Trading update Q1 2025: stabiele prestatie in eerste kwartaal en vooru...
Trading update Q1 2025: stabiele prestatie in eerste kwartaal en vooruitzichten voor het volledige jaar bevestigd Hoogtepunten eerste kwartaal 2025 Solide start van het jaar met een omzet voor de groep van 993 miljoen euro, 10% hoger in vergelijking met 900 miljoen euro vorig jaarHet orderboek blijft gezond met 7,6 miljard euro, in vergelijking met 7,5 miljard euro een jaar geleden, exclusief het orderboek van HavframHet management herbevestigt de vooruitzichten voor het jaar voor een omzet en EBITDA-marge minstens in lijn met vorig jaarNa afloop van het eerste kwartaal heeft DEME Havfram ...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update May 2025: Removing Fugro – Adding Merus
The ongoing tariff war continues to create uncertainty for investors, with a trade embargo between the US and China. Although Europe has received a temporary reprieve, the prolonged situation could result in significant economic damage. We are maintaining a defensive stance in our Benelux Dynamic Top Pick List, as the Federal Reserve holds steady and the European Central Bank may continue lowering rates. Pessimism regarding the European industry has increased, though some US-based European compa...
DEME completes Havfram acquisition
DEME completes Havfram acquisition DEME COMPLETES HAVFRAM ACQUISITIONFollowing the announcement on April 9, 2025, of its agreement to acquire Havfram, an international offshore wind contractor based in Norway, DEME (Euronext: DEME) has now successfully completed the acquisition. The transaction, valued at approximately 900 million euros, has passed all customary closing conditions. Attachment
DEME rondt overname van Havfram af
DEME rondt overname van Havfram af Volgend op de aankondiging op 9 april 2025 van de overeenkomst om Havfram, een internationale offshore windaannemer uit Noorwegen, over te nemen, heeft DEME (Euronext: DEME) de overname nu succesvol afgerond. De transactie, gewaardeerd op ongeveer 900 miljoen euro, voldoet aan alle gebruikelijke voorwaarden. Bijlage
- Guy Sips
DEME Model updated after acquiring of Havfram for € 900m
We updated our numbers after DEME announced that it has signed an agreement to acquire Havfram (employing around 50 people), an international offshore wind contractor based in Norway. The agreement represents an aggregated transaction value of +/- 900m including the remaining Capex needed to complete 2 vessels. This strategic acquisition aligns with DEME's ambition to expand its footprint in the offshore wind energy market and enhances its competitive positioning in turbine and foundation instal...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Moody's Ratings upgrades the senior unsecured rating of Waste Connecti...
Moody's Ratings (Moody's) upgraded the senior unsecured rating of Waste Connections, Inc. (WCN) to A3 from Baa1. We also changed the outlook to stable from positive. The rating upgrade and stable outlook reflects our expectation of continued strength in operating performance, highlighted by in...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Wim Lewi
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